Analysis and Insights into the world of IPOs and investing in India

Tuesday, May 3, 2011

Vaswani Industries Limited IPO subscribed 4.16 times

Vaswani Industries Limited IPO, which closed for subscription today on Tuesday, May 03, 2011, has received a decent response with the IPO getting overbid 4.16 times on an overall basis. The IPO, which consisted of 1,00,00,000 Equity Shares of Rs.10/- each, had opened for subscription from Friday, April 29, 2011

A look at the category-wise subscription is quite noteworthy. The subscription from the Retail Category has blossomed on the closing day of the IPO with the IPO getting subscribed around 6.82 times as compared to only 0.43 times till Day 2 of the IPO, i.e. till Monday, May 02, 2011. On the other hand, the QIB Investors have largely remain averse with only 16 percent subscription in the QIB Category

Vaswani Industries Ltd (VIL) is part of Vaswani Group of Industries. VIL is engaged in integrated business of manufacturing Sponge Iron, Steel Billets and Ingots and power generation
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